Bitcoin lending firm Ledn is launching an Ethereum yield product in response to user requests. Ledn’s Growth Accounts, which currently offer interest on Bitcoin and USD Coin deposits, will now include an ETH offering. Users had been seeking an alternative to manually staking Ether, and Ledn aims to provide a shielded option. The firm assures users that their deposits will remain unaffected even if Ledn were to go bankrupt. Ledn plans to expand its ETH support across its suite of products in the coming months. Additionally, Ledn will be launching a stablecoin Growth Account for Tether (USDT) deposits on October 12th. However, these new offerings will not be available to users in the United States or Canada. Ledn’s move follows a trend of Bitcoin-first companies gradually expanding their support for cryptocurrencies other than BTC. In June 2023, noncustodial wallet platform Casa introduced multisignature ETH self-storage, and in August 2023, Ledn partnered with Cayman Islands real estate company Parallel to enable cryptocurrency investments in property for eventual residency.
